SNAI will file an appeal against the ruling of the Court of Auditors

Porcari, February 20, 2012 - SNAI S.p.A. (the "Company" or "SNAI") acknowledges of ruling n. 214/2012 issued by the Court of Auditors, Lazio Regional Judicial Division, and filed on February 17, relating to administrative responsibility alleged by the Lazio Regional Attorney with writs of summons issued on the 3rd and 4th of December, 2007 against the 10 concessionary companies for the collection of legal gaming via amusement with prize machines, among which SNAI was included, in relation to the known matter of the penalties for the alleged deficiencies in the management of the online network during the startup phase.

Said judgment comprises a monetary penalty for the Company of 210 million Euro (including adjustments for inflation), in addition to legally defined interest from the publication date of the judgement until the effective payment date, as a repayment of the stated tax offense as a consequence of the alleged inobservance by the concessionary of the service levels required by the concession.

A full analysis is underway with the intent to evaluate the impact of the aforementioned judgement.
SNAI declares that it will file appeal against this judgement to prove the correctness of its conduct, which could not result in any such responsibility. The submission of the appeal will determine the suspension as per law of the effects of the challenged judgement.

Regarding the operation of integration with Cogetech S.p.A. ("Cogetech"), please refer to press release previously issued, SNAI informs, moreover, that Cogetech also is included among the concessionaires addressed by the judgement, and is liable for a payment of 255 million euro (including adjustments for inflation). SNAI is also evaluating the impact which the Judgement may have on the completion of the aforementioned operation.

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20 Feb 2012 - 17:32